Airtel overtakes TCS in market capitalization, becoming India’s third most valuable company
Indian billionaire Sunil Mittal continues to expand his business empire as Bharti Airtel, India’s second-largest telecom operator, surpasses Tata Consultancy Services (TCS) to become the country’s third-most valuable company by market capitalization. Airtel now trails only Mukesh Ambani’s Reliance Industries and HDFC Bank.
The telecom giant’s shares recently rose by 0.33%, pushing its market value to ₹11.44 lakh crore—around ₹2,000 crore more than TCS. In comparison, TCS shares closed at ₹3,158.90, with its market cap standing at ₹11.42 lakh crore.
Bharti Airtel vs TCS: contrasting market trajectories
Bharti Airtel’s market capitalization has grown by nearly ₹2 lakh crore in 2025, reflecting investor confidence and strategic business moves. Meanwhile, TCS has seen its market value decline sharply, losing ₹3.4 lakh crore due to concerns over a sluggish US macroeconomic environment and emerging AI-related disruptions, according to a CNBC-TV18 report.
This is not the first time Bharti Airtel has overtaken TCS in market cap—the last instance was in October 2009. However, it is the first time Airtel has secured the third spot among India’s most valuable companies. Remarkably, Airtel ranked 10th just three years ago. As of March 2025, Airtel had 609.44 crore outstanding shares, including 39.23 crore partly paid-up shares. The company’s share price has climbed 20.2% since January, while TCS shares have declined by 22% during the same period.
Airtel’s strategic partnership with Perplexity
A significant contributor to Airtel’s upward trajectory is its recent collaboration with AI company Perplexity. Airtel announced that it will offer Perplexity Pro’s premium subscription, valued at ₹17,000 annually, free of charge to all Airtel customers for one year. This offer extends to 360 million Airtel users across mobile, Wi-Fi, and DTH services.
This strategic move is widely seen as a key factor in Airtel’s strengthened market position, helping the telecom giant expand its digital services ecosystem and enhance customer loyalty.
Bharti Airtel’s rise to the third spot among India’s most valuable companies signals a shift in the telecom and IT landscape, underscoring Sunil Mittal’s vision to position Airtel as a leader in both connectivity and digital services.
